Kevin Donahue of Midland Loan Services moderated a panel of special servicers from Wells Fargo, Berkadia, Situs and KeyBank to discuss the state of the industry amid signs that "extend and pretend" policies are themselves in transition.

On more than one occasion, clients have described the creation of mortgage-backed securities not as a delegation of authority by one party to another, but rather as a "coming to the table" by the issuer, master servicer, special servicer and trustee to assume discrete roles.

We are frequently reminded how globally interconnected our economy has become. With that in mind, Jones Lang LaSalle's annual conference on real estate markets opened with Rebecca Patterson, Global Head of Foreign Exchange and Commodities at J.P. Morgan, providing a whirlwind tour of the domestic and international economy.